While cryptocurrencies previously stood at the fringe of the payments space, 2021 saw institutional interest increase as governments and banks invested heavily in the space. The crypto-community saw a lot of institutional interest, especially about the market’s top two crypto-tokens. Banks such as Morgan Stanley, Goldman Sachs, and a few other billion-dollar valuation firms took one step forward, mainly due to surging demand from their respective clients.
While the said firms voiced their interest publicly, some have kept a poker face or even denied tie-ups when dealing with cryptocurrencies. For instance, major banking institutions in the U.K, including Barclays, Monzo, and Starling, in the past blocked their users from transferring money to cryptocurrency exchanges.
